Monday, November 8, 2010

To Save America We Need To Put 50% Tariffs On All Chinese Imports, Says Tonelson

Wow, my response to that is Smoot Hawley and try it once. The unintended consequences of such a decision have not be thoroughly discussed here.
But if the US ever wants to dig itself out of its economic hole, says Alan Tonelson, a fellow at the United States Business and Industry Council and author of “The Race to the Bottom,” we need to fix our enormous trade deficit with China and other countries. And the way to fix it, says Tonelson, is to put high tariffs on all goods imported from China, thus increasing the price-competitiveness of those produced domestically.

Source: finance.yahoo.com

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